GT&T shares should not be sold

Jul 26, 2009 Letters

Dear Editor,
The government wants to sell its shares in GT&T, but I see in the newspapers GT&T contributed $43 billion since 2000, paying nothing less than $200 million a year, and up to last year government collected $1.5 billion in taxes and $265 million in dividends. Should these reports be true, then why sell these shares, anyway? These shares are not redundant, or a liability, or a risk; On the contrary, these shares rake in a handsome return! The PNCR should be commended for opposing this sale. As a matter of fact, all Guyanese should be opposing this sale. What about the other opposition parties? Are they looking for cheap publicity elsewhere? Or are they just looking after partisan interests. This is a matter of national concern, not only the PNCR, so the rest should come out of their slumber. The President’s claims that this sale will lead to cheaper costs and enhanced services to consumers, is almost laughable – no relativity there. Where is the rationale in throwing away $1.5 billion in taxes and $265 million in dividends on a yearly basis?
What is the selling price for these shares, considering their rate of returns? There are so many questions that need to be answered and all Guyanese should be demanding these answers. Let’s hear some more voices on this issue.
M. S. Baksh

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